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Toho HoldingsTOHO HOLDINGS CO.,LTD.8129東証プライム卸売業FY ending Mar 2026, consolidated, J-GAAP

Toho Holdings FY ending Mar 2026 results

About 93% of Toho Holdings's sales come from Medical products retail, with Dispensing pharmacy and Other related business making up much of the rest.

Out of every ¥100 of sales, about ¥1 is left as operating profit.

Revenue changed +2.3% from the prior year, operating profit -12.3%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +2.3% · profit -12.3%, calculated from disclosed figures.

Operating leverage: -5.37× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+2.3%¥1.52T → ¥1.55T
Gross profit
+0.6%¥121.6B → ¥122.4B
Operating income
-12.3%¥18.9B → ¥16.6B
Net income attributable to owners
-12.7%¥19.8B → ¥17.3B
Operating cash flow
Back to profit-¥26.7B → ¥19.2B
Free cash flow
Back to profit-¥32.4B → ¥9.73B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥1.55T, up +2.3% from ¥1.52T.
  • Gross profit barely moved, rising +0.6% to ¥122.4B.
  • Operating income dropped -12.3% from ¥18.9B to ¥16.6B, and net income attributable to owners fell -12.7% to ¥17.3B.
  • Operating cash flow swung back to a positive ¥19.2B after -¥26.7B the year before.

What drove the change

  • In wholesale, COVID-related products kept shrinking, but cancer drugs, specialty medicines, diabetes treatments and shingles vaccines sold more.
  • Higher purchase costs for drugs cut profit in the wholesale segment.
  • The pharmacy business grew both sales and profit, even though costs from merging its operating companies came first.

Things to watch

  • Changes to official drug prices or the health insurance system can hit not only sales but also selling prices to hospitals and rebates from drug makers.
  • The industry often delivers drugs before the price is agreed; if the final price differs from the estimate, results can shift.
  • If customers run into financial trouble, more receivables than expected may go unpaid.

Annual Securities Report, 78th fiscal term / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 78th fiscal term / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Toho Holdings sells, how much goes where, and how much is kept.

FY ending Mar 2026
Cost of sales
¥92
SG&A
¥7
Operating profit
¥1
Net profit kept
¥1

Annual margin trends

Gross margin7.9%
FY ending Mar 2021: 8.2%8.2%FY ending Mar 2022: 8.6%8.6%FY ending Mar 2023: 8.2%8.2%FY ending Mar 2024: 8.1%8.1%FY ending Mar 2025: 8.0%8.0%FY ending Mar 2026: 7.9%7.9%FY21FY22FY23FY24FY25FY26
Operating margin1.1%
FY ending Mar 2021: 0.4%0.4%FY ending Mar 2022: 1.0%1.0%FY ending Mar 2023: 1.2%1.2%FY ending Mar 2024: 1.3%1.3%FY ending Mar 2025: 1.2%1.2%FY ending Mar 2026: 1.1%1.1%FY21FY22FY23FY24FY25FY26
Net margin1.1%
FY ending Mar 2021: 0.4%0.4%FY ending Mar 2022: 1.1%1.1%FY ending Mar 2023: 1.0%1.0%FY ending Mar 2024: 1.4%1.4%FY ending Mar 2025: 1.3%1.3%FY ending Mar 2026: 1.1%1.1%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第78期(2025/04/01－2026/03/31)

    ID S100YHSN2026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第77期(2024/04/01－2025/03/31)

    ID S100W4IU2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第76期(2023/04/01－2024/03/31)

    ID S100TX0G2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第75期(2022/04/01－2023/03/31)

    ID S100R9FR2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第74期(令和3年4月1日－令和4年3月31日)

    ID S100OLHO2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第73期(令和2年4月1日－令和3年3月31日)

    ID S100LUOG2021-06-29Open

Extracted from XBRL: 56 / Derived from other figures: 2

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